The Glade 4.0 :: View topic - One of Khross's calls?

Nationally, home prices have sunk below their previous low, set back during the recession in 2009, Clear Capital reports.

April home prices were .7 percent below levels last reached in March, 2009, the latest milestone in a now months-long slide in real estate values, the research firm notes.

Of course, the last time prices were headed south, in the aftermath of the global financial crisis in the fall of 2008, we saw a panicked Congress and real estate industry rush through the home buyer tax credit, which artificially buoyed sales and prices.

This time around, there's no home buyer tax credit to bail things out and lots of downward momentum to keep prices falling in the coming months.

Greater Boston weighs in at No. 15 on Clear Capital's list of "lowest performing" markets, with a 6.8 percent, quarter-over-quarter decline in prices and a 2.2 percent year-over-year drop.

That's compared to 4.9 percent, quarter-over-quarter price drop nationally.

Other warning flags include:

Taken over a nine month period, the decline in housing prices looks even more serious, with an 11.5 percent drop nationally.
All major metro areas tracked by Clear Capital reported a quarter-over-quarter decline in home prices.
Sales of bank-owned properties now account for 34.5 percent of all home sale

Author:	Uncle Fester [ Fri May 06, 2011 8:02 pm ]
Post subject:	One of Khross's calls?
Double dip to the housing market? http://www.boston.com/realestate/news/b ... _doub.html Quote: Nationally, home prices have sunk below their previous low, set back during the recession in 2009, Clear Capital reports. April home prices were .7 percent below levels last reached in March, 2009, the latest milestone in a now months-long slide in real estate values, the research firm notes. Of course, the last time prices were headed south, in the aftermath of the global financial crisis in the fall of 2008, we saw a panicked Congress and real estate industry rush through the home buyer tax credit, which artificially buoyed sales and prices. This time around, there's no home buyer tax credit to bail things out and lots of downward momentum to keep prices falling in the coming months. Greater Boston weighs in at No. 15 on Clear Capital's list of "lowest performing" markets, with a 6.8 percent, quarter-over-quarter decline in prices and a 2.2 percent year-over-year drop. That's compared to 4.9 percent, quarter-over-quarter price drop nationally. Other warning flags include: Taken over a nine month period, the decline in housing prices looks even more serious, with an 11.5 percent drop nationally. All major metro areas tracked by Clear Capital reported a quarter-over-quarter decline in home prices. Sales of bank-owned properties now account for 34.5 percent of all home sale

Author:	Lex Luthor [ Fri May 06, 2011 8:08 pm ]
Post subject:
This seems like a good thing. Housing will be more affordable.

Author:	Rynar [ Fri May 06, 2011 10:25 pm ]
Post subject:
Actually, look to commercial peppery to hit it's initial crash at the same time. The indicators are ripe.

Author:	Micheal [ Fri May 06, 2011 10:42 pm ]
Post subject:
Okay, you got me Rynar, what is commercial peppery?

Author:	Jasmy [ Fri May 06, 2011 11:48 pm ]
Post subject:	Re: One of Khross's calls?
LOL Micheal, was wondering the same thing.

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Author:	Rynar [ Sat May 07, 2011 1:38 am ]
Post subject:	Re:
Micheal wrote: Okay, you got me Rynar, what is commercial peppery? Property. Damn you auto correct.

Author:	Hannibal [ Sat May 07, 2011 5:20 am ]
Post subject:
The lagging of the commercial property crash was also called by multiple folks here.

Author:	Arathain Kelvar [ Tue May 10, 2011 7:59 am ]
Post subject:
And by a ton of economists going back over a year from what I've been reading. I don't think this is a surprise to most folks. Most of the people I heard say "no double dip" generally qualified it with "it's possible, but I don't think it will happen". And a lot of folks expected it. What remains to be seen is how much of an impact this will have on the overall economy.

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